Testing strategies of betting on horse races in GTA Online. Calculating adjusted advantage compared to the odds and using Kelly Criterion to determine bet size, then simulating games.
We know that when we add up all odds in a given race in gtao they don't add up to 100%. ChatGPT 4 suggested that one of the possible solutions to this would be to use fixed chances for each horse. This means that just like each horse have fixed odds, they could also all have fixed chances of winning. I don't really think that it's easy to implement, because then it would probably limit the combinations. Unless all horses in each group (favourites/underdogs/etc) have the same chances, which doesn't seem to be true based on stats I've seen. Nevertheless, an interesting thought, maybe it can be shaped into something promising.
We know that when we add up all odds in a given race in gtao they don't add up to 100%. ChatGPT 4 suggested that one of the possible solutions to this would be to use fixed chances for each horse. This means that just like each horse have fixed odds, they could also all have fixed chances of winning. I don't really think that it's easy to implement, because then it would probably limit the combinations. Unless all horses in each group (favourites/underdogs/etc) have the same chances, which doesn't seem to be true based on stats I've seen. Nevertheless, an interesting thought, maybe it can be shaped into something promising.